Wilson v. Anderson

Citations

• 186 Pa. 531
• 40 A. 1096
• 1898 Pa. LEXIS 1039

Syllabus

<p>Trust and trustees — Voluntary deed of trust — Spendthrift trust — Revocation— Testamentary disposition of property.</p> <p>If the intention of the grantor at the time he delivers a voluntary deed of trust is to part with the legal title the trust will be enforced in favor of the beneficiaries, even though their enjoyment of the estate is postponed until the death of their benefactor. Equity, because of exceptional facts in rare eases, has revoked the trust or held it revocable by the grantor, because plainly a testamentary instrument; but the general rule has remained without change.</p> <p>A man twenty-six years old, of intemperate and improvident habits, executed to his brother a voluntary deed of trust of an interest which the settlor had in his father’s estate. The trustee was to collect the income and pay it over, less expenses, to the grantor during the latter’s lifetime, and after the death of the grantor the trustee was to convey the land to the grantor’s brothers and sisters. Power to convey was given to the trustee, but it was provided that the proceeds of sales should be invested and held for the purposes of the trust. The deed contained no power of revocation. The grantor had considerable property apart from that covered by the deed of trust. Nine years afterwards the grantor executed a will by which after directing payment of debts he devised and bequeathed all the rest and residue of his estate to a brother .and a sister, and by express words revoked all former wills theretofore by him made. The settlor lived eighteen years after the execution of the will, but during all this time the grantor and the trustee continued acting under the deed of trust, and treating it as in full force. After the settlor’s death the trustee filed his account. Held, that the will did not revoke the deed of trust; (2) that the deed of trust by its terms and purpose was not revocable by any subsequent will.</p> <p>Evidence — Declarations—Deed of trust.</p> <p>Loose declar